PARIS-Hamburg-based Union Investment Real Estate has bought a four-star business hotel project in Paris' La Defense business district from Vinci Immobilier for an undisclosed price. The new hotel, located on the Esplanade de Charles de Gaulle, is fully leased to Spanish hotel chain Melia Hotels International.
Melia Paris La Defense will come up on a 258,333-square-foot space and will offer 369 rooms. It is expected to be completed in Q3 2014. For the full story, go to Europe Real Estate .
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